Registered Charity Number 1197765
NEWLEAF FOUNDATION
TRUSTEES REPORT AND ACCOUNTS
31 DECEMBER 2022
NEWLEAF FOUNDATION Financial statement Year ended 31 December 2022
| Contents | Page |
|---|---|
| Charity information and professional advisers | 3 |
| Trustees’ report | 4 |
| Accountants’ report | 6 |
| Income statement | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
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NEWLEAF FOUNDATION
Charity Information Year ended 31 December 2022
Registered charity name NEWLEAF FOUNDATION Charity number 1197765 116 Riverpark Trading Estate Registered office Riverpark Road Manchester M40 2XP Trustees Marcelina lbha Ehimare Stengert (Chair) Fanon Sabrina Lavodrama Faith Odibo Accountants BC NWAIWU & CO LTD Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN Bankers Lloyds Bank plc
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NEWLEAF FOUNDATION Trustees’ Report Year ended 31 December 2022
The Trustees, present their annual report with the unaudited financial statements of the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Charities Act 2022 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (effective January 2022).
Reference and administrative details
The Charity is a charitable incorporated organisation and was formed on 02 February 2022, as Newleaf Foundation.
Objectives
The objects of the charity for the public benefit include;
- To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society.
For the purpose of this clause ‘socially excluded’ means being excluded from society, or parts of society, as a result of one of more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender re-assignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards; crime (either as a victim of crime or as an offender rehabilitating into society) or being a member of a socially or economically disadvantaged community.
Public Benefit
The board of trustees have given due consideration to Charity Commission’s published guidance on the operation of the public benefit requirement and confirm that these requirements are met by the charity.
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NEWLEAF FOUNDATION Trustees’ Report Year ended 31 December 2022
Going concern
The trustees have assessed the ability of the charity to continue operating and discharging its role for the foreseeable future, and have made financial projections, taken into consideration the current economic climate because of Coronavirus (COVID-19) crisis and its potential impact on the various sources of income and planned expenditure. We have adequate financial resources and are able to manage our business risks.
Statement of responsibilities of the trustees
The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2022.
Marcelina lbha Ehimare Stengert Chair of Trustees
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NEWLEAF FOUNDATION
Accountant’s report
For the period ended 31 December 2022
Accountants' report to the board of trustees on the preparation of the unaudited statutory accounts of Newleaf Foundation for the period ended 31 December 2022.
In order to assist you to fulfil your duties under the Charity Act 2022, we have prepared for your approval the accounts of Newleaf Foundation for the period ended 31 December 2022 which comprise of the Statement of financial activities (incorporating income & expenditure account), the Balance Sheet and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made solely to the Trustees of Newleaf Foundation, as a body, in accordance with the terms of our engagement dated 8[th] February 2023. Our work has been undertaken solely to prepare for your approval the accounts of Newleaf Foundation and state those matters that we have agreed to state to the Trustees of Newleaf Foundation, as a body, in this report to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newleaf Foundation and its Trustees as a body for our work or for this report.
It is your duty to ensure that Newleaf Foundation has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position of Newleaf Foundation. You consider that Newleaf Foundation is exempt from the statutory audit/independent examination requirement for the period.
We have not been instructed to carry out an audit/independent examination or a review of the accounts of Newleaf Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
BC NWAIWU & CO LTD
Building 1 Suit 4A Office 6 Wilsons Park Business Centre
Manchester M40 8WN
Date: 03 March 2023
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NEWLEAF FOUNDATION
Income Statement
For the period ended 31 December 2022
| Note Income from: Donations and legacies 2 Charitable activities 3 Total income Expenditure on: charitable activities 4 Total expenditure Net income/(expenditure) for the year 11 Transfer between funds Net movement in funds for the year Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted £ 1,674 - 1,674 - - 1,674 - 1,674 - 1,674 |
Restricted £ - 19,147 19,147 9,584 9,584 9,563 - 9,563 - 9,563 |
2022 £ 1,674 19,147 |
|---|---|---|---|
| 20,821 | |||
| 9,584 | |||
| 9,584 | |||
| 11,237 - |
|||
| 11,237 - |
|||
| 11,237 |
The notes on pages 9 to 13 form part of these financial statements
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NEWLEAF FOUNDATION
Statement of Financial Position As at 31 December 2022
| Note Fixed assets Tangible assets 6 Total fixed assets Current assets Cash at bank and in hand 7 Debtors 8 Total current assets Liabilities Creditors -Amount falling due within one year 9 Net current assets Total assets less current liabilities Creditors -Amount falling due after more than one year 10 Net assets The funds of the charity: Unrestricted funds 11 Restricted funds 11 Total charity funds |
£ 10,526 - 10,526 (240) |
2022 £ 951 |
|---|---|---|
| 951 (10,286) |
||
| 11,237 - |
||
| 11,237 | ||
| 1,674 9,563 |
||
| 11,237 |
Marcelina lbha Ehimare Stengert Chair of Trustees
Approved by the board on 03 March 2023
The notes on pages 9 to 13 form part of these financial statements
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NEWLEAF FOUNDATION Notes to the Financial Statements
For the period ended 31 December 2022
1. Accounting Policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a. Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective January 2022) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Newleaf Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
b. Judgments and estimates
The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
c. Going concern
The trustees have reviewed the charity's forecasts and projections and the trustees are confident that the charity can fulfil its commitments to its beneficiaries for the period ending 31 December 2023.
d. Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
e. Income
The Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
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NEWLEAF FOUNDATION Notes to the Financial Statements
For the period ended 31 December 2022
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
f. Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Expenditure on charitable activities includes all costs undertaken to further the purposes of the charity and their associated support costs.
-
Finance costs includes all interest and other costs the charity incurs in connection with the borrowing of funds.
g. Tangible fixed assets
All expenditure of a capital nature on development work overseas is expensed as incurred, while tangible fixed assets in the UK costing more than £100 are capitalized and included at cost, including any incidental expenses of acquisition. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost by equal annual instalments over their expected useful economic lives as follows:
| Freehold land and buildings | Nil |
|---|---|
| Computer infrastructure | 5 years |
| Computer equipment | 4 years |
| Furniture, fixtures and equipment | 4 years |
Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.
h. Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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NEWLEAF FOUNDATION Notes to the Financial Statements For the period ended 31 December 2022
i. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
j. Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
| 2. Donations and legacies Donations Other income Total 3. Charitable activities Grants National Lottery Community Fund Step Up Manchester The Apostolic Order One Manchester Manchester Settlement Manchester BME Network Greater Manchester GMCVO Manchester MMCIF Arnold Clark Automobiles 4CT Limited Charitable trading Charity sales Support services Total income from charitable activities |
Unrestricted £ 761 913 1,674 Unrestricted £ - - - - - - - - - - - - - - - |
Restricted £ - - - Restricted £ 10,000 500 300 250 3,967 900 750 1,000 1,000 480 19,147 - - - 19,147 |
2022 £ 761 913 |
|---|---|---|---|
| 1,674 | |||
| 2022 £ 10,000 500 300 250 3,967 900 750 1,000 1,000 480 |
|||
| 19,147 | |||
| - - |
|||
| - | |||
| 19,147 |
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NEWLEAF FOUNDATION Notes to the Financial Statements For the period ended 31 December 2022
| 4. Expenditure on charitable activities Staff cost Project costs Depreciation Professional fees Governance costs Support costs Restricted expenditure Unrestricted expenditure 5. Net income/(expenditure) for the year This is stated after charging/(crediting): Depreciation 6. Fixed assets: tangible assets Land and Buildings £ Cost At 02 February 2022 - Additions - At 31 December 2022 - Depreciation At 02 February 2022 - Charge for the year - At 31 December 2022 - Net book value At 31 December 2022 - At 02 February 2022 - |
Fixtures and fittings £ - 652 652 - 163 163 489 - |
2022 £ 3,313 2,228 317 - 313 3,413 9,584 9,584 - 9,584 2022 £ 317 Computer equipment £ - 616 616 - 154 154 462 - |
2022 £ 3,313 2,228 317 - 313 3,413 |
Total £ - 1,268 |
|---|---|---|---|---|
| 9,584 | ||||
| 9,584 - |
||||
| 9,584 | ||||
| 2022 £ 317 |
||||
| 1,268 | ||||
| - 317 |
||||
| 317 | ||||
| 951 | ||||
| - |
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NEWLEAF FOUNDATION
Notes to the Financial Statements
For the period ended 31 December 2022
| 7. Cash at bank and in hand Cash at bank Cash in hand 8. Debtors Trading debtors Grant debtors Prepayments 9. Creditors- Amount falling due Accountancy fee 10. Creditors- Amount falling due Trade creditors Other creditors 11. Fund movements Restricted funds Restricted project fund Unrestricted funds General fund The funds of the charity |
within one year after more than one year Balance at 02 February 2022 Income £ £ - 19,147 - 19,147 - 1,674 - 1,674 - 20,821 |
2022 £ 10,526 - 10,526 2022 £ - - - - 2022 £ 240 240 2022 £ - - - Expenditure £ (9,584) (9,584) - - (9,584) |
2022 £ 10,526 - |
As at 31 December 2022 £ 9,563 |
|---|---|---|---|---|
| 10,526 | ||||
| 2022 £ - - - |
||||
| - | ||||
| 2022 £ 240 |
||||
| 240 | ||||
| 2022 £ - - |
||||
| - | ||||
| 9,563 1,674 |
||||
| 1,674 | ||||
| 11,237 |
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